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TJX Cos. announces a $1 billon stock buyback

If you've been following the headlines, you know that share buybacks are way, way, way down over past years. Just last week, Standard & Poor's reported that stock buybacks by companies in the S.& P. 500 fell to $24.2 billion in the second quarter of 2009. That was down 28%from the first quarter and was a mind-blowing 72% below the figure for the same quarter of 2008.

Of course the irony is that by backing up the truck to buy back shares in past years, companies depleted the cash they could have used to buy back stock now -- when their share prices are a lot lower.

Continue reading TJX Cos. announces a $1 billon stock buyback

Twelve straight months of retail sales declines

Retail sales were down for the twelfth month in a row in August, according to an Associated Press report. Consumers stayed focused on what they need rather than what they want, as unemployment remains high and even those employed worry about the future of their jobs.

The silver lining, though, is that the coming holiday season might not be as bad as many thought.

Some retailers actually showed gains. TJMaxx (NYSE: TJX) and Old Navy, a Gap (NYSE: GPS) company, for example, saw year-over-year sales increases, though upscale stores generally sustained declines. The action on the discount side could be an early sign that the consumer is ready to play.

Continue reading Twelve straight months of retail sales declines

TJX Companies rallies on strong first-quarter earnings

TJX Companies, Inc. (NYSE: TJX) -- parent of T.J. Maxx, Marshalls, Home Goods, and other stores in which budget-conscious fashionistas scramble for bargains -- demonstrated that it is budget-minded as well today when it reported its latest quarterly earnings figures.

The company's first-quarter profit rose 8% on a year-over-year basis to $209.2 million, or 49 cents per share. Overall sales ticked up 1% to $4.35 billion, while same-store sales rose 2%. Earnings numbers were roughly on par with Street estimates, while sales were slightly ahead of the mark -- analysts were expecting per-share results of 49 cents on $4.32 billion in sales.

Continue reading TJX Companies rallies on strong first-quarter earnings

Options Update: Clothing retailers volatility elevated into EPS; TJX, KSS, M

TJX Companies (NYSE: TJX) is scheduled to report Q4 EPS on February 25. TJX closed at $21.83. TJX February option implied volatility is at 61, March is at 56; above its 26-week average of 52, according to Track Data, suggesting larger price movement.

Kohl's (NYSE: KSS) closed at $37.93. KSS is expected to report Q4 EPS on February 26. Goldman Sachs downgraded KSS to Sell. KSS March option implied volatility of 63 is near its 26-week average, according to Track Data, suggesting non-directional price movement.

Continue reading Options Update: Clothing retailers volatility elevated into EPS; TJX, KSS, M

Why do we do business with Russia?

Russian business runs on different rules. News Corp.'s (NYSE: NWS) Rupert Murdoch, who has been doing business in China for years, is nervous about his Russian enterprises. This morning, the FBI announced it had rounded up a ring of data thieves, many from former Soviet Union countries. And then there's the little matter of BP-TNK, a joint venture between BP (NYSE: BP) and a Russian company, whose Russian shareholders are booting out its Western executives so they can take over the operation.

Here's what Silicon Alley insider reports Murdoch had to say about doing business in Russia: "We have great growing business there but just -- this is purely me, I'm sorry, I'm -- the more I read about investments in Russia, the less I like the feel of it. The more successful we'd be, the more vulnerable we'd be to have it stolen from us, so there we sell now."

In case you missed it, The Detroit Free Press reports that an international ring of data thieves used wardriving -- the practice of stealing data from unprotected Wi-Fi networks -- to take 40 million identities, use the information to print fake ATM cards, and steal millions of dollars. The corporate victims include customers of TJX (NYSE: TJX), Barnes & Noble (NYSE: BKS), and OfficeMax (NYSE: OMX). Five of the 11 defendants are from former Soviet Union countries -- "one is from Estonia, three are from Ukraine, and one is from Belarus."

Continue reading Why do we do business with Russia?

The TJX Companies: Share price defines bullish chart formation

The TJX Companies (NYSE: TJX) is a leading off-price retailer of apparel and home fashions in North America and Europe. The firm sells family apparel, accessories, shoes, giftware, jewelry and home furnishings through nearly 2,100 stores in the United States (T.J. Maxx, Marshalls, HomeGoods, A.J. Wright, Bob's Stores), over 250 outlets in Canada (Winners, HomeSense), and 226 T.K. Maxx stores in the United Kingdom and Ireland. Target (NYSE: TGT), Kohl's (NYSE: KSS) and Ross Stores (NASDAQ: ROST) are major competitors.

The company pleased investors last week, when it reported a December same-store sales increase of three percent (y/y) and issued upside guidance for the fourth quarter. Management now sees Q4 EPS of 60-63 cents, versus previous guidance of 58-60 cents and Street consensus of 59 cents. The CEO attributed success to disciplined inventory management and expense control. Analysts also pointed to the tendency of consumers to move to discount-oriented chains in a declining economy.

Continue reading The TJX Companies: Share price defines bullish chart formation

Symbol Lookup
IndexesChangePrice
DJIA+20.0310,246.97
NASDAQ-2.982,151.08
S&P 500-0.071,093.01

Last updated: November 11, 2009: 12:20 AM

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